what do i do now

reallylost

If i called the car people and said i wanted the car repossessed would i still have to make the payments?

lynzpower

Go through https://www.quidco.co.uk and open a bank account through there, I think natwest might give you money for opening a bank account. Or go onto the "referrers board" back to the main list and get someone to refer you.

Some "basic" bank accounts wont allow standing orders or DDs so do check this out. I have a smile acocunt for mine. Its got a 500 interest free overdraft ( handy if those bills are slightly more than anticipated).
Very easy to set up and the internet banking bit is easy to navigate. Recommended

CLAPTON

if the car is on a HP agreement you may find this link very informative

http://www.direct.gov.uk/MoneyTaxAndBenefits/ManagingDebt/DebtsAndArrears/DebtsAndArrearsArticles/fs/en?CONTENT_ID=10013226&chk=1uPl5U

sm9ai

Kevicho wrote:

Your two "luxuries" are
£21.00 per month Sky
£17.50 per month AOL

As mentioned above. This works out at almost £500 a year.

Have you considered cancelling sky. You would still be able to use sky for free to air(or is that view??) programs. Which still gives you loads of channels and will not cost you anything.

You would get all these - http://www.freesatfromsky.co.uk/?pID=3 - ignore the bit about the £150 one off payment as you already have the dish and box. (Plus your life will get significantly better without t.v. but thats another story....)


Also for Broadband. AOL is generally thought of as a pretty awful service. There are many better ones about. How much do you use broadband anyway? Find out how much you download a month and perhaps consider a pay as you go service. Metronets service starts at £11.75 (although perhaps the £13.75 service is more reasonable) http://www.metronet.co.uk/broadband/paygo.shtml and is probably a better service too!

So this should cut your luxuries down to by £300 a year. And you can easily upgrade back to what you had at anytime if job situation changes.

Hope that helps.

Eager_Elephant

I would try to have both bank accounts with the same bank so that money can be moved around instantly if need be.

If not keep your current account and open another one purely for your wages. If you do that this week by the 1st July you will have a months worth of money and can set up all your DD's for the 1st of the month (most need 14 days to set up and/or change the date)

If you use your Tax Credits for weekly bills and shopping then you know once that money has gone then you can't buy any more until any money comes in, so if you have a birthday that will have to come out of that money.

I make your monthly expenses £501.97 + debt payments of £537.24 = £1039.21.

Have your wages and child benefit paid into the bill account and the account should be able to run itself although some months you will be paid 4 times and sometimes 5 so you may need to pay in an extra £100 pm from tax credits to even it out.

If you can get internet banking then you will be able to check your account regularly to make sure everything is going fine.

If you get an account where savings pots can be created then you could start saving for xmas and car stuff, quite a lot of banks do this - I use Halifax but I am not saying they are the best.

With regard to the car repossession can you give a few more details on it. Can you check the Hp agreement because the amount you have to have paid before handing it back will be listed. Theey are pretty strict as well, if they repossess and there is any minor damage then you will charged and if you hand it back you might still owe money.
I used to have a finance agreement with Welcome so similar companies.

HTH

EE

reallylost

I have had a look at the link about handing the car back and think this will be a good option. I checked my agreement and as i havent paid a third i will still owe them money but it will be less than i owe now and i wont have the running costs of the car.
How do I get child benefit paid into a different account as i have never contacted them b4?

Do they really need 14 days to set up the DDS? that would really help!
Will I have problems getting a new bank account as I have previous bad credit?
sorry to ask so many questions but they keep popping into my head as i type and all this is starting to make some sense!

thanks